A Village Has Five Residents, Each of Whom Has an Accumulated

question 134

Multiple Choice

A village has five residents, each of whom has an accumulated savings of $50. Each villager can use the money to buy a government bond that pays 10 percent interest per year or to buy a year-old goat, send it onto the commons to graze, and sell it after one year. The price of the goat that the villager will get at the end of the year depends on the amount of weight it gains while grazing on the commons, which in turn depends on the number of goats sent onto the commons, as shown in the table below. Assume that if a villager is indifferent between buying a bond and buying a goat, the villager will buy a goat. $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Number af gants } \\\text { an the carmuns }\end{array} & \begin{array} { c } \text { Price per 2-year } \\\text { ald poat (5) }\end{array} & \begin{array} { c } \text { Incame per } \\\text { gant (\$/year) }\end{array} \\\hline 1 & 80 & 30 \\\hline 2 & 75 & 25 \\\hline 3 & 70 & 20 \\\hline 4 & 65 & 15 \\\hline 5 & 55 & 5 \\\hline\end{array}$$  
If each villager is purely self-interested, how many goats will be sent onto the commons?

• A)2
• B)3
• C)4
• D)5

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Definitions:

Review And Reconciliation

The process of verifying the accuracy of financial records by comparing two sets of data or accounts to ensure they match.

Internal Auditors

Professionals employed by an organization to perform audits on its operations, systems, and processes to ensure accuracy, compliance, and efficiency.

Shift Supervisors

Individuals responsible for overseeing operations and workers during a specific period or shift within a workplace.

Segregation Of Duties

An internal control measure that divides responsibilities among different people to reduce risk of error or fraud.